UiPath Inc. (NYSE:PATH) announced plans to cut around 10% of its global workforce, a new filing with the SEC showed.
Approved by the Board on Monday, UiPath said the move is part of a restructuring strategy to improve operational efficiency and customer focus.
UiPath employs roughly 4,200 people worldwide and aims to complete most of these reductions by the end of the first quarter of fiscal year 2026.
“The Company estimates that it will incur costs of $15 million to $20 million related to employee termination benefits and approximately $2 million to $5 million in connection with lease exit and other contractual costs,” the filing said.
“The total anticipated restructuring costs of approximately $17 million to $25 million are predominantly expected to be cash expenditures and are expected to be incurred by the first quarter of fiscal year 2026.”
The company’s shares rose 0.8% in premarket trading Tuesday.